If the application is successful, liquidation of transport leasing business would be the largest in the history of the Irish State
If the application is successful liquidation of transport leasing business would be the largest in the history of the Irish StateTwo Irish-registered aircraft and ship leasing firms that are part of a group ultimately owned by the Russian state are opposing a High Court application for their winding up.
Lawyers acting for four creditors of GTLK Europe DAC, and the related entity GTLK Europe Captial DAC, estimated to be worth more than $4.5 billion , last month asked the court to appoint liquidators on grounds that the firms are insolvent and unable to pay their debts. If the application is successful it would be the largest liquidation in the history of the Irish State.
The creditors, whose petition is being supported by other creditors of the group, want Damien Murran and Julian Moroney, of Teneo Restructuring Ireland, to be appointed as joint liquidators to the companies, which have been hit hard by international sanctions imposed on Russia following the invasion of Ukraine.
On Friday the creditors’ senior counsel, Kelley Smith, instructed by William Fry solicitors, told the court lawyers are representing the firms, which now intend to oppose the winding-up application.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gillian Whelan appointed managing director at AspiraIrish-owned firm Aspira is part of Emagine, a business and IT consulting company
Read more »
Gillian Whelan appointed managing director at AspiraIrish-owned firm Aspira is part of Emagine, a business and IT consulting company
Read more »
The Irish derby, Leinster's team rotation, and Munster's red-hot hostsAll four Irish provinces are in URC quarter-final action this weekend:
Read more »
Paddy Power-owner Flutter sees revenue jump to €2.7 billion as US market grows by 92%The gambling giant said its Irish and British division continues to outperform the market
Read more »
High Court appoints provisional liquidator to two firms in SIAC construction groupHigh Court appoints provisional liquidator to two firms in SIAC construction group via IrishTimesBiz
Read more »
Russia ‘actively mapping’ West’s critical undersea systems, Nato warnsRussian vessels near subsea communications cable off Irish coast among recent incidents that have heightened concern
Read more »